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In recent cryptocurrency developments, the spotlight is once again on Bitcoin (BTC). Investors are keeping a close eye, noticing the potential death cross as the 50-day EMA is poised to dip below the 200-day EMA. This death cross usually signals a bearish trend, suggesting that Bitcoin’s price could decline further.
Currently, Bitcoin’s price is hovering around $58,000, but if the death cross is confirmed, it might plunge below $55,000 or even drop to the low $50,000 range. Historical data show that Bitcoin has faced significant downward trends following such crosses. However, a turn of events could see bulls regaining control, pushing the price past the critical resistance level at $62,000. Achieving a steady rise above this would potentially ignite a rally toward $65,000 and beyond.
Dogecoin’s Recent Surge: What’s Next?
On the other side of the cryptocurrency landscape, Dogecoin (DOGE) is making headlines by surpassing the $0.1 mark. Although this progress is notable, caution is still necessary. DOGE is currently below its 50-day EMA, signaling that a full recovery might still be distant.
To foster sustainable growth, DOGE needs to break above the 50-day EMA, presently at $0.11. Surpassing this could pave the way to the 100-day EMA at $0.12 and possibly even the 200-day EMA near $0.13. Persistently maintaining levels above these EMAs would likely restore confidence among investors.
Without achieving these milestones, DOGE could see a fallback to support levels around $0.09, where it might stabilize before trying to surge again.
Related
Is Shiba Inu Lifeless?
Turning our attention to Shiba Inu (SHIB), one might wonder if this meme coin has lost its spark due to prolonged low volatility. Over the last few months, SHIB has struggled to exceed key resistance levels, showing a subdued performance.
Currently trading around $0.00001333, SHIB is well below its 50-day, 100-day, and 200-day EMAs, painting a bleak short-term outlook. This low trading activity suggests that the days of SHIB being driven by investor hype might have faded.
Nevertheless, hope remains. If SHIB can breach the 50-day EMA at $0.000014 and especially the 100-day EMA at $0.000016, it might indicate a bullish reversal. This breakthrough could attract new investors, potentially pushing prices back toward the $0.00002 mark.
However, without a strong catalyst or increased trading volumes, SHIB may continue to be seen as a stagnant asset. Investors should watch closely for any movement above these crucial EMAs to gauge potential recovery.
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